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Download Fact Sheet: Enhanced Compliance Management with ReserveLink®
Improving profitability has never been more important for financial institutions. Intense competition for new and existing customers, growing customer expectations for self-service options, unpredictable markets and rising operational costs all demand that banks seek new revenue streams to sustain expected profitability. The ability to reduce non-earning assets and expand asset income to produce additional free capital for investment is critical to a bank's overall profitability strategy.
ReserveLink is a deposit reclassification solution that sweeps transaction account balances into non-transaction accounts, transforming previously idle funds (low-interest bearing Federal Reserve account balances) into an earning asset for your organization. This multi-platform software tool allows banks to reduce reserve requirements and expand investment income by establishing a process that greatly reduces or eliminates the need to maintain balances in accounts at the Federal Reserve.
ReserveLink runs after DDA posting and before general ledger. This process requires no change to existing G/L Entries from current DDA process. Furthermore, it requires no modifications to existing applications and allows for creation of new general ledger contra-accounts for adjusting entries. The U.S.-patented algorithm and process used to determine the optimum threshold balance amounts will on average keep 90 percent (consistently over time) of total balances, classified as a non-transaction account balance account resulting in non-volatile reserve requirements. This is the highest sweep efficiency available on the market today.
ReserveLink is completely compliant with recent May 2007 Federal Reserve rulings and letters. ReserveLink operates as a "lights out" solution, with all analysis, funds sweeping and reporting handled in an automated, unattended fashion—providing your organization with more investable funds at lower operational costs. The system is scalable and supports existing DDA systems, as well as future DDA systems introduced due to mergers, acquisitions and system conversions.
A Dedicated Partner for Your Cash and Logistics Management
As a pioneer in the cash supply chain management field, Fiserv is the leading provider for deposit reclassification. ReserveLink is part of the Cash Forecasting Management solution set which provides robust integrated modules that address all aspects of the end-to-end cash supply chain. From cash forecasting, to invoice reconciliation, and all points in between, Fiserv has the solution to meet your cash supply chain objectives.
ReserveLink can be used by financial institutions of any size.
- Reduces reserve requirements by sweeping demand account balances into savings accounts, transforming previously idle funds (non-interest bearing Fed account) into investment dollars.
- Dynamic threshold process allows for consistent sweep efficiency of 90% plus, which is unmatched by any other solution on the market today.
- On-going support and maintenance included.
- Complies with recent May 2007 Federal Reserve rulings and letters.
- No manual adjustments are required.
- Robust reporting and control package.
- No impact to customer accounts or deposit applications.
- No visibility on customer statement.
- Multi-platform/DDA system compatible—implement with any core processor.
- Automatic interest accrual tracking.
- Automatic posting to GL — making FR2900 reporting easier.
- Enhanced management of your Federal Reserve account.
255 Fiserv Dr.
Brookfield, WI 53045
Contact: Joan Skimmons Tel: (800) 872-7882
Web site: http://www.carreker.fiserv.com/main/solutions/cash/cash_ove.htm
Steve Polestak Tel: (202) 663-5577